JP Morgan Upgraded Eaton, Says Company Will Enjoy Organic & EPS Growth Amid Sluggish Electrical Equipment Industry Fundaments
Portfolio Pulse from Lekha Gupta
JP Morgan analyst C. Stephen Tusa upgraded Eaton Corp PLC (NYSE:ETN) to Overweight from Neutral and raised the price target from $185 to $230. The analyst expects Eaton to witness above-average growth and best earnings revisions led by strong end markets and a tight supply & demand scenario. The analyst raised estimates for EPS to $8.90 (from $8.28 earlier), $9.95 (from $9.13) for FY24, and $11.16 (from $9.98) for FY25.
October 06, 2023 | 5:29 pm
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Eaton Corp PLC has been upgraded by JP Morgan to Overweight from Neutral with a raised price target from $185 to $230. The analyst expects above-average growth and best earnings revisions for the company.
The upgrade by JP Morgan and the raised price target indicate a positive outlook for Eaton Corp PLC. The analyst's expectations of above-average growth and best earnings revisions suggest strong future performance for the company, which could positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100